Major Shareholder:

• Mr. Lee, Felix ¡V 46.56% interest
• Kingspecial Investments Limited ¡V 15.28% interest

Company Subsidiaries:

• Guangzhou Armitage (90.0%): Sale and development of the proprietary hotel management application software known as Pegasus
• ATL (100%): Provision of information solutions and the sale of application software.
• Eastern Express (100%): Provision of online hotel management services to mid-ranged botels in the PRC.
• Mentor systems Ltd (100%): Property investment.
• Guangzhou Eastern Express (100%): Provision of IT related technical advice to hotels in the PRC

The Group is a local information solutions and application software developer and provider targeting at both the commercial and public sectors in Hong Kong and the commercial sector in China. the major products and servies of the Group are categorized as follows:

• Provision of information solutions, which includes the development and implementation of systems according to customers' specifications and which may involve project management, support, maintenance and enhancement services, systems integration, consulting and customization of proprietary and thrid party application software; and
• Sale of the Group's proprietary and third party application software:

The Group's proprietary application software includes its hotel management software, namely Pegasus, which is marketed in China, and its ERP application software, namely AIMs, which is marketed in Hong Kong and China, and KONTO 21, which is marketed in Hong Kong.

Presently, the Group provides its products and services mainly in Hong Kong, and approximately 96%, 86% and 83% of the Group's turnover for the two years ended 31st March, 2002 and the 5 months ended 31st August 2002, respectively, were attributable to customers in HK.

The Directors believe that the Group has the following competitive advantages:

• A solid customer base including renowned business enterprises in the commercial sector in Hong Kong and China and public sector bodies in Hong Kong;
• It's award-winning hotel management application software (Pegasua) targeting at hotles in China and its ERP application software (AIMs and KONTO 21) targeting at manufacturers in China and Hong Kong which have already been sold to over 600 customers;
• A good reputation amongst its customers for its high quality services and ability to deliver large scale and complex information solutions that meet customers' needs in a timely manner;
• A strong management team that has extensive experience in the local IT industry particularly in serving the local transportation and manufacturing sectors as well as the government and other public sector bodies in Hong Kong;
• The ability to recruit, retain and train highly skilled technical personnel that contribute significantly to its success.

• Reliance on single customer;
• Funding for the repurchase of the preferred shares;
• History of operating loss;
• Reliance on independent software developers;
• Rapid change on technologies;
• Infringement of intellectual property rights;

The Group's objective is to become a pre-eminent application software and information solution developer and provider in Hong Kong and China, targeting at the commercial sectors in Hong Kong and China as well as the public sector in HK. In particulart, the directors believe that China could emerge as one of the largest manufacturing economies in the near future and the sale of the Group's ERP application software and the provision of related information solutions in China will be the driver of growth of the Group in the near future.

The Directors have deivsed the following strategies to achieve the Group's objectives;

• Enhancing the Group's proprietary ERP application software known as AIMS and hotel management application software known as Pegasus and developing as ASP platform to offer online hotels management services to mid ranged hotels in China;

• Establishing strategic relationships and, or acquiring IT companies and, or application software developers that may complement the information solutions services and application software developed and offered by the Group;

• Focusing on the manufacturing and transportation sectors and the public sector in Hong Kong and the manufacturing and hospitality sector in China, in which the Group as in-depth industry and technical expertise;

• Expanding the Group's sales network and stepping up marketing efforts in Hong Kong and China;

• Recruiting more experienced technical staff and implementing staff development programmes to further improve the technical skills of its staff; and

• Development software modules known as Adapter and e-finance which are designed to provide cost effective solutions to customers.

The net proceeds from the Placing, after deducting the related expenses, are estimated to amount to approximately HK$30.0 million (based on the offer price HK$0.35 per share). The Group at present intends to apply the net proceeds as follows: